Encina Business Credit, LLC announced today that is has provided a $10 million senior secured revolving credit facility to a designer, marketer, and distributor of mid-priced and premium bicycles.
The revolving line of credit, which is collateralized by accounts receivable and inventory, will provide financing of the company’s working capital and capex requirements.
Encina’s demonstrated track record, coupled with its flexible approach, provided the borrower’s management team and ownership the confidence that its business needs would be met.
Launched in 2016, EBC is one of the country’s leading independent asset-based lending platforms that provides financing to middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $10 – 125 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate.
Encina lends to both privately-owned and publicly traded companies across a range of industries, including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products.